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US fashion group PVH says ‘deeply disappointed’ over China sanctions

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February 5, 2025

US firm PVH, which owns Tommy Hilfiger and Calvin Klein, said Wednesday it was “deeply disappointed” by China’s decision to place it on the country’s sanctions list.

Tommy Hilfiger – Spring/Summer 2025 – Womenswear – USA – New York – ©Launchmetrics/spotlight

Beijing on Tuesday added the fashion group and biotech giant Illumina to its list of “unreliable entities” – part of a swath of measures against US businesses in China in an escalating trade war between the two economic superpowers.

In response, the New York-based firm told AFP it was “surprised and deeply disappointed to learn of the decision from the Chinese Ministry of Commerce”.

“PVH maintains strict compliance with all relevant laws and regulations and operates in line with established industry standards and practices,” they said.

“We will continue our engagement with relevant authorities and look forward to a positive resolution,” they added.

PVH was already in Beijing’s crosshairs.

Chinese officials in September said they were investigating its “unreasonable” boycott of cotton from its Xinjiang region, where Beijing is accused of widespread rights violations.

Biotech firm Illumina, in turn, also told AFP they “comply with all laws and regulations”.

“Illumina has a long-standing presence in China, where we serve the local market through our advances in genomics that help improve human health,” a company spokesperson said.

“We are assessing this announcement with the goal of finding a positive resolution.”

China’s commerce ministry on Tuesday accused the two US companies of violating “normal market transaction principles” and taking “discriminatory measures against Chinese enterprises”, adding that the government’s move would “safeguard national sovereignty, security and development interests”.

Beijing also on Tuesday announced a probe into US tech giant Google over violations of its anti-monopoly laws.

Authorities did not give further details about the allegations.

Contacted by AFP, a Google spokesperson declined to comment.

Copyright © 2025 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.



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Fashion

Litkovska launches capsule collection with Nick Knight

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February 5, 2025

Ukrainian fashion house Litkovska has launched a capsule collection with British image-maker Nick Knight, dubbed The Flowers Know Better. 

Litkovska launches capsule collection with Nick Knight. – Litkovska

First unveiled as part of Litkovska’s Spring-Summer 2025 collection, the capsule merges Knight’s visionary floral imagery with Lilia Litkovska’s signature craftsmanship. The collection symbolizes resilience, renewal, and the enduring power of beauty amid adversity.

Inspired by the Ukrainian concept of Zhynyva (the harvest), the capsule introduces cotton bandanas, tailored jackets, voluminous shirts, open-back vests, denim ensembles, and a statement T-shirt inscribed with Flowers Know Better. Exclusive floral prints designed for the collection will also be available for purchase.

“While in peacetime flowers decorate and bring comfort to us in our homes, the flowers that grow through the rubble or on the battlefield provide hope and demonstrate the power of beauty and nature” said Lilia.

“The goal of our collaboration is to support children of Ukraine who are suffering from this terrible war and to warm the souls of people around the world by bringing these flowers closer to their hearts.”

The collection launches with a campaign featuring Ukrainian actress Solomiia Kyrylova, known for her role in “Pamfir”, reinforcing the collection’s connection to Ukrainian culture and storytelling. 

All profits from the capsule will be donated to City of Goodness, a Ukrainian humanitarian initiative. The collaboration was facilitated by Be an Angel e.V., an international humanitarian organization led by Holger Homann.

“I abhor violence and brutality of all kinds where-ever and however it happens. If within this collaboration my work can bring any relief from, or shine a light on the cruel and inhuman suffering that this dreadful war is causing, then I will be delighted,” added Knight.

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Michael Kors-owner Capri forecasts fiscal 2026 revenue below estimates

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February 5, 2025

Capri Holdings forecast revenue well below Wall Street estimates for its fiscal 2026 on Wednesday, as the Michael Kors owner grappled with slowing demand for luxury goods and persistent declines in the Americas and Asia.

Michael Kors – Spring-Summer2025 – Womenswear – Etats-Unis – New York – ©Launchmetrics/spotlight

Shares of the company, which also projected fiscal 2025 revenue below expectations, were down about 6% in premarket trading.

The global luxury goods sector has been grappling with its slowest sales in years, with a 2% fall in 2024, according to Bain & Co. estimates, hit by a property crisis in China.

Meanwhile, Capri is looking for a reset after its $8.5 billion deal with Coach-owner Tapestry to create a U.S. luxury conglomerate collapsed following opposition from the Federal Trade Commission.

Capri expects fiscal 2026 net revenue of $4.1 billion, compared with analysts’ estimates of $4.52 billion, according to data compiled by LSEG. It sees fiscal 2025 revenue of $4.4 billion, below analysts’ expectations of $4.51 billion.

© Thomson Reuters 2025 All rights reserved.



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Columbia Sportswear reports 2024 sales dip despite strong Q4

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February 5, 2025

Columbia Sportswear announced on Tuesday net sales decreased 3 percent to $3.37 billion in 2024, compared to 2023, despite a strong fourth quarter. 

Columbia Sportswear reports 2024 sales dip despite strong Q4. – Columbia Sportswear

The Portland, Oregon-based company said net sales for the fourth quarter ended December 31, 2024, increased 3 percent to $1.1 billion, compared to fourth quarter 2023.

The increase was led by the Europe, Middle East and Africa and Latin America, Asia Pacific regions, partially offset by the United States, while sales in Canada were flat year-over-year.

By brand, Columbia sales increased 6 percent to $945 million, with Sorel down 16 percent to $97 million. Smaller brands PraNa and Mountain Hardwear fell 2 percent and increased by 5 percent, respectively.

Net income increased 10 percent to $102.6 million, or $1.80 per diluted share, compared to net income of $93.3 million, or $1.55 per diluted share, for the comparable period in 2023.

“I’m encouraged that sales returned to growth in the fourth quarter, and we expect continued growth in 2025, across most brands and regions,” said chairman, president and chief executive officer Tim Boyle.

“During the year we made substantial progress on our inventory reduction efforts, achieved cost savings through our Profit Improvement Program, and returned meaningful cash to shareholders through share buybacks and dividends. We also laid the foundation for Columbia’s Accelerate Growth Strategy, which will come to life in the seasons ahead.”

Looking ahead to 2025, net sales are expected to increase by 1 to 3 percent, ranging from $3.40 to $3.47 billion. Diluted earnings per share is expected to be $3.80 to $4.15, compared to $3.82 in 2024.

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